From The Economic Times · Himadri Buch and Himanshi Lohchab · · 1m 20s
Jio IPO Draws Strong Global Fund Interest
Global funds show strong interest in Jio's record-breaking ₹30,188-crore IPO.
In brief
Global funds show strong interest in Jio's record-breaking ₹30,188-crore IPO. Jio Platforms' IPO attracts global institutional investors including GIC and BlackRock for its largest Indian offering. Originally reported by The Economic Times.
Jio IPO Interest
Jio Platforms has drawn interest from global institutional investors including sovereign wealth funds and asset managers like Allianz and BlackRock for its anchor book.
IPO Valuation
The proposed ₹30,188-crore IPO will be India's largest historical offering, surpassing Hyundai Motor India's ₹27,859-crore record.
Investor List
Investors showing interest include GIC, Fidelity, Norway's Government Pension Fund Global, New World Fund Inc, and Smallcap World Fund Inc.
Domestic Bidders
Domestic investors such as SBI Mutual Fund, LIC India, ICICI Prudential Mutual Fund, HDFC Mutual Fund, and Kotak Mahindra Mutual Fund are potential bidders.
Price Band
The IPO price band is ₹1,065-1,119 per share with a minimum bid of 12 shares and multiples of 12 thereafter.
Employee Discount
Eligible employees applying under the employee reservation portion receive a ₹54 per share discount.
Subscription Dates
The IPO opens for subscription on Oct 21 and closes on Oct 23, with anchor investor bidding starting Oct 19.
Share Reservations
The company has reserved shares worth up to ₹2,500 crore for RIL shareholders and up to ₹500 crore for employees.
The essence
Jio Platforms' IPO attracts global institutional investors including GIC and BlackRock for its largest Indian offering.
